Asia-Pacific Topical Drug Delivery Market, By Product (Semi-Solid Formulation, Liquid Formulation, Solid Formulation, Transdermal Products), Route of Administration (Dermal Drug Delivery, Opthalmic Drug Delivery, Rectal Drug Delivery, Vaginal Drug Delivery, Nasal Drug Delivery), End Use (Hospitals & Clinics, Burn Centers, Research Institutes, Home Care, Others) – Industry Trends and Forecast to 2030.
Asia-Pacific Topical Drug Delivery Market Analysis and Size
The increase in incidences of burn injuries worldwide is one of the main factors increasing the growth of topical drug delivery market. It has been witnessed that transdermal products are expected to witness an immense growth rate during the forecast period 2023-2030. Growing prevalence of skin diseases such as acne vulgaris has enhanced the market to a great extent. Also, growing occurrence of diabetes worldwide is anticipated to surge the demand for topical drug delivery.
Data Bridge Market Research analyses a growth rate in the topical drug delivery market in the forecast period 2023-2030. The expected CAGR of topical drug delivery market is tend to be around 9.4% in the mentioned forecast period. The market is valued at USD 207.4 million in 2022, and it would grow upto USD 425.55 million by 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Asia-Pacific Topical Drug Delivery Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product (Semi-Solid Formulation, Liquid Formulation, Solid Formulation, Transdermal Products), Route of Administration (Dermal Drug Delivery, Opthalmic Drug Delivery, Rectal Drug Delivery, Vaginal Drug Delivery, Nasal Drug Delivery), End Use (Hospitals & Clinics, Burn Centers, Research Institutes, Home Care, Others)
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Countries Covered
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China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC)
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Market Players Covered
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Merck KGaA (Germany), Thermo Fisher Scientific (U.S.), BIOMÉRIEUX (France), Agilent Technologies, Inc. (U.S.), BD (U.S.), Biotools, Inc (U.S.), SGS Société Générale de Surveillance SA (Switzerland), Intertek Group plc (U.K.), Eurofins Scientific (Luxembourg), Mérieux NutriSciences Corporation (France), ifp Institut für Produktqualität GmbH (Germany), Microbac Laboratories, Inc. (U.S.), FoodChain ID Group, Inc (India), AsureQuality (Singapore), Campden BRI (U.K.), ANGLE plc (U.K.)
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Market Opportunities
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Market Definition
Tropical drug delivery is a type of medication that is applied to specific place usually on body surface or skin or mucous membranes for the treatment of ailments. Drugs applied through these mode of delivery penetrates deep inside the skin and get absorbed more efficiently. These drugs are used for numerous treatments such as fungal, bacterial, viral infections, warts, inflammation, and dermatological conditions. Product such as transdermal drugs provide systematic drug with very little invasiveness.
Asia-Pacific Topical Drug Delivery Market Dynamics
Drivers
- Increasing Rate of Skin Disorders
The increasing frequency of skin cancer and other associated skin disorders or other skin issues such as acne, vitiligo, and dermatosis combined with the increasing demand of effective drugs are the most prominent factors boosting the growth for this market. Additionally, fungal infection and acne were more incident in the adolescent age group, resulting for around 17.4% and 30.4%, respectively. Asian countries, particularly high-income countries, had a high burden of including acne, alopecia areata, atopic dermatitis, inflammatory dermatoses, contact dermatitis, decubitus ulcers, pruritus, psoriasis, and seborrheic dermatitis. Furthermore, acne prevalence has been reported to be as high as 88% in Asia and can cause a major burden by negatively affecting the quality of life. Thus, this boosts the market growth.
Opportunities
- Growing Product Launches
The increasing company activities in emerging products and growing product launches are anticipated to boost the market growth. For instance, Nexgel launched MEDAGEL Migraine Relief Patch in November 2021. The patches draw heat away from the body using Nexgel's proprietary hydrogel technology, providing immediate and prolonged cooling relief from migraines, hormonal headaches, and fevers. Furthermore, Luye Pharma Group launched the Rivastigmine Transdermal Patch in China in 2021, for the treatment of mild to moderate Alzheimer's disease. Thus, this factor boost the growth of the market.
- Increasing Government Funding by Organizations
The growing government funding for increasing the demand and adoption of patches for delivering different vaccines is also contributing to the growth of the segment. For instance, Innoture received funding from the Welsh Government of about GBP 200,000 in July 2020, for its, Self-Administration of SARS-CoV-2 Vaccine via Microlithographic 3D printed Microstructure Patches, project. Such huge developments are estimated to increase the growth of the market.
Restraints/Challenges
- Side-Effects of Drug Delivery Process
Several side-effects are associated with topical drug delivery, such as nausea, dizziness, or headache. Furthermore, irritation, burning, stinging, dryness, or redness at the application site may occur many a times. Thus, these factors restrict the market growth.
This topical drug delivery market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the topical drug delivery market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Asia-Pacific Topical Drug Delivery Market Scope
The topical drug delivery market is segmented on the basis of product, route of administration and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Semi-Solid Formulation
- Liquid Formulation
- Solid Formulation
- Transdermal Products
Route of Administration
- Dermal Drug Delivery
- Opthalmic Drug Delivery
- Rectal Drug Delivery
- Vaginal Drug Delivery
- Nasal Drug Delivery
End User
- Hospitals & Clinics
- Burn Centers
- Research Institutes
- Home Care
- Others
Topical Drug Delivery Market Regional Analysis/Insights
The topical drug delivery market is analyzed and market size insights and trends are provided by product, route of administration and end useras referenced above.
The major countries covered in the topical drug delivery market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).
China is dominating the market because of increasing number of elderly population combined with the incidence of disease such as diabetes. Several advancement in technology, rising economy, and rise in medical tourism are some of the major factors driving the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Asia-Pacific Topical Drug Delivery Market Share Analysis
The topical drug delivery market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to topical drug delivery market
Key players operating in the topical drug delivery market include:
- Merck KGaA (Germany)
- Thermo Fisher Scientific (U.S.)
- BIOMÉRIEUX (France)
- Agilent Technologies, Inc. (U.S.)
- BD (U.S.)
- Biotools, Inc (U.S.)
- SGS Société Générale de Surveillance SA (Switzerland)
- Intertek Group plc (U.K.)
- Eurofins Scientific (Luxembourg)
- Mérieux NutriSciences Corporation (France)
- ifp Institut für Produktqualität GmbH (Germany)
- Microbac Laboratories, Inc. (U.S.)
- FoodChain ID Group, Inc (India)
- AsureQuality (Singapore)
- Campden BRI (U.K.)
- ANGLE plc (U.K.)
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